127,717 Shares in Lamar Advertising (NASDAQ:LAMR) Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp purchased a new stake in Lamar Advertising (NASDAQ:LAMR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 127,717 shares of the real estate investment trust’s stock, valued at approximately $13,574,000. Mackenzie Financial Corp owned about 0.13% of Lamar Advertising as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Invesco Ltd. grew its position in shares of Lamar Advertising by 186.6% in the 1st quarter. Invesco Ltd. now owns 1,418,785 shares of the real estate investment trust’s stock valued at $164,834,000 after buying an additional 923,689 shares during the last quarter. Norges Bank acquired a new stake in shares of Lamar Advertising during the fourth quarter worth about $79,703,000. Morgan Stanley lifted its holdings in shares of Lamar Advertising by 50.3% in the 4th quarter. Morgan Stanley now owns 1,384,858 shares of the real estate investment trust’s stock valued at $130,731,000 after purchasing an additional 463,212 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Lamar Advertising by 97.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 738,168 shares of the real estate investment trust’s stock valued at $73,737,000 after purchasing an additional 364,900 shares during the period. Finally, Balyasny Asset Management LLC grew its stake in Lamar Advertising by 2,099.1% during the 3rd quarter. Balyasny Asset Management LLC now owns 308,338 shares of the real estate investment trust’s stock worth $25,435,000 after buying an additional 294,317 shares during the last quarter. Institutional investors and hedge funds own 93.78% of the company’s stock.

Insider Activity at Lamar Advertising

In other Lamar Advertising news, CFO Jay Lecoryelle Johnson sold 5,000 shares of Lamar Advertising stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $118.97, for a total value of $594,850.00. Following the sale, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $1,189,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 14.98% of the stock is owned by insiders.

Lamar Advertising Stock Up 0.1 %

Lamar Advertising stock opened at $110.72 on Friday. The stock has a 50 day moving average of $113.41 and a two-hundred day moving average of $103.09. Lamar Advertising has a twelve month low of $77.21 and a twelve month high of $121.99. The stock has a market capitalization of $11.30 billion, a price-to-earnings ratio of 22.83 and a beta of 1.50. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 2.55.

Lamar Advertising (NASDAQ:LAMR) last issued its quarterly earnings results on Friday, February 23rd. The real estate investment trust reported $1.46 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.49). The company had revenue of $555.91 million for the quarter, compared to analyst estimates of $549.84 million. Lamar Advertising had a return on equity of 41.88% and a net margin of 23.49%. During the same period in the prior year, the business earned $1.91 earnings per share. As a group, research analysts expect that Lamar Advertising will post 7.54 earnings per share for the current year.

Lamar Advertising Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $1.30 per share. This represents a $5.20 dividend on an annualized basis and a dividend yield of 4.70%. This is a positive change from Lamar Advertising’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend was Thursday, March 14th. Lamar Advertising’s payout ratio is 107.22%.

Analyst Ratings Changes

A number of brokerages have weighed in on LAMR. Morgan Stanley boosted their price objective on Lamar Advertising from $105.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. JPMorgan Chase & Co. increased their price target on shares of Lamar Advertising from $92.00 to $109.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Finally, StockNews.com upgraded shares of Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.